It goes both way. No border for non essential travel has a HUGE impact. The tourist/hotel/restaurant cannot survive as is without American tourist. Of course since we will not travel either we should spend our vacation here in Quebec this summer but we wont make up for the loss. In fact pool and spa's are currently sold at record pace right now!
But the US will loose too if this stays on too long. Look at the impact of canadian snowbirds that goes down south (mainly Florida and Arizona) each year. We are talking about close to half a million people who spend overall about 10 billions. If the virus is still problematic next fall (and it should be..) this will be all lost as the coverage for insurance to go spend the winter in the US would be astronomical.
But the US will loose too if this stays on too long. Look at the impact of canadian snowbirds that goes down south (mainly Florida and Arizona) each year. We are talking about close to half a million people who spend overall about 10 billions. If the virus is still problematic next fall (and it should be..) this will be all lost as the coverage for insurance to go spend the winter in the US would be astronomical.